In a Nov 2012 press release the company stated: " The operations...

In a Nov 2012 press release the company stated: " The operations are therefore projected to provide positive operating margins, even during the hot commissioning and ramp-up phase."

In later announcements we read about "design capacity achieved", "16t-18t per day", "77,3% tungsten", etc. but nothing that would confirm the first production being cash flow positive.

In a statement released 11/06/2013 they said "self-sustaining cashflows within the next production campaigns expected" Note: Campaign*S* So obviously the first campaign was not cash flow positive and the second isn't going to be cash flow positive either.